22-7 In a forward contract agreement,the quantity of product to be traded,the time of the actual trade and the price are determined at the time of the agreement.

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In a forward contract agreement, the quantity of product to be traded, the time of the actual trade, and the price are pre-determined at the time of the agreement. The buyer and the seller agree to trade at the specified time and price, regardless of the market conditions at that time.

22-7 in a Forward Contract Agreement,the Quantity of Product to Be